Ferrari temptation - should I give in ?

[pdavison]

I think temptation maybe leading me to possibly making a rather expensive mistake. Having lusted after Ferrari’s since being able to talk, I am seriously considering purchasing my first Ferrari.

However, in order to do so I would be borrowing about half the cash needed and although I’m comfortable to do this I’m slightly concerned that it may be a silly mistake.

So, all your ideas and advice would be much appreciated. I would be looking to spend approximately £40k and would ideally be looking for a 355GTB. However, I know that this is right at the bottom of the market for this model and wouldn’t want to end up with a dog. What model would you guys recommend for this sort of money and should I be considering this at all?

I wouldn’t use the car everyday (well, I would try not to) and understand from reading previous posts that I should expect no change from £1.5k for a service and £3k for a cambelt change. What would I expect to pay for insurance (age 27, clean license and full no claims)?

What would be your recommendations/thoughts?

[manu]

hi pdavison - for £40K that would get you a LHD DOG... I think you're setting a VERY low price for a F355 - it would get you a lovely 348 though...
Anyone agree... Mind you a couple of specialists do list a few LHD F355 for £39K - they are the earlier 2.7 cars too...

>> Edited by manu on Tuesday 19th November 10:54

[456mgt]

Paul- sorry I don't have time for a fully thought through response, but I agree with Manu; LHD early 355s with lots of miles are just starting to dip in below 40K. Would look elsewhere myself (348, 328, 308) or sit on my hands in the hope they'll fall further.

Kevin

[marki]

Hi , try this Baby

www.autoselect.se/cars_view.asp?lang=1

at a rough exchange rate it works out at £48k i know these guys and they are flexible and dead straight

[castex]

If you could manage to wait, I'd say that the insurance will be miles cheaper once you're over thirty.
I'd also agree with previous posts; why not try a 308 for now and do the full 180mph thing in 2005?
On the other hand you could just do what I did and take a massive, silly risk...

[iguana]

manu said: Anyone agree... Mind you a couple of specialists do list a few LHD F355 for £39K - they are the earlier 2.7 cars too...

>> Edited by manu on Tuesday 19th November 10:54

Manu ref a 2.7 355 I thought all 355s were 3.5 litre, tell me more, the only smaller engined Ferrais I know about were the 2 litre turbo 308s for the tax break in the italian market. But then what I know about Ferraris can be written on the back of a spoon

[manu]

Hello mate - what I mean by 2.7 cars is the different ECU and ignition system that seperates the earlier and later model F355s.
The early F355s have the Bosch Motronic 2.7 ignition system (a la 348) and the later ones have the 5.2 system.

[pdavison]

Thanks for the advice guys.

I did think that the F355 might be a little out of my reach. So I could wait until they either come down in price or my budget goes up or look at an alternative.

What are your opinions regarding the earlier models (308/328/348). I've always thought the 328 has the 'classic' Ferrari look, but having driven one I wasn't that impressed. This was on a Ferrari track day and it could have been a very abused example.

Cheers

Paul

[domster]

Maybe a really nice, very late 348?

Not an early one, but the very last of the outgoing model before the 355. Craigw had/has one, and it sounded fantastic value for money and almost everything a 355 is. At the end of the day though, even a cheap Ferrari will be expensive to run. If you can't sink between 2k-4k in it per year, I'd wave the white flag now.

I used to baulk at an estimated 600GBP per year running an 8v Integrale, then got a Lotus Carlton that ate 7k in about 14 months. Expensive toys, fast cars, especially when a prancing horse is involved. Still fantastic cars though.

[rthierry]

hmmmm.... £40k would get you a nice Cerbie/Tuscan or even a well specced T350C.

Oooops sorry wrong forum !!

[456mgt]

domster said: Maybe a really nice, very late 348?

Not an early one, but the very last of the outgoing model before the 355. Craigw had/has one, and it sounded fantastic value for money and almost everything a 355 is. At the end of the day though, even a cheap Ferrari will be expensive to run. If you can't sink between 2k-4k in it per year, I'd wave the white flag now.

I used to baulk at an estimated 600GBP per year running an 8v Integrale, then got a Lotus Carlton that ate 7k in about 14 months. Expensive toys, fast cars, especially when a prancing horse is involved. Still fantastic cars though.

Would agree completely with Dom. If you want a Ferrari, and that is the big 'if', I would go for a late 348 too. These were being continually updated throughout their production period and the late ones have a lot of 355 about them. Don't really get it, but many 348s are below the price of a 328, probably because they have been (unfairly IMO) criticised. They will still cost you several £k to run, less than this if you go 308/328 I'm told.

[hungryjim]

40k would get you a used low mileage XK8 or a higher mileage XKR Jaguar.40k you could have a fully kitted cherished example of each but there not the fastest sportscar every [actually there more of a GT] but buy one of these and someone else has taken the shunt of depreciation and you could have a Diamond 355 later

[456mgt]

This is what I mean:
www.ferrarichat.com/discus/messages/21/169423.html?1037781287

[360N-GT]

Or, you could go the classic AND 180mph route, and go for a 512BB. Your 40k would get you a great example. A real drivers car that sounds better than all others, and rewards effort....and you'll need it!

Go to KHPC.co.uk and have a look at my '79 example thats for sale there. You'll get change too, and it's had all the expensive jobs done. A belt change only costs 1000 pounds and they're technically simple and easy to fix.

[iguana]

manu said:
The early F355s have the Bosch Motronic 2.7 ignition system (a la 348) and the later ones have the 5.2 system.

Hi Manu, so whats the advantages/disadvanages of the later Bosch set up?

[craigw]

I've still got it & still loving it despite the weather!

Having cats removed & straight through pipes put on next week while I'm on hols too. wwwwwaaaaaaaaagggggghhhhhhhhh

[itecsol]

Pdavison

I have to agree with rthierry. Get a TVR first and, when you're 30 get a Ferrari. If like me, you can stomach the costs of running a Ferrari, I'd get the latest model possible if you want one now.

However at the budget you mention, a TVR makes more sense. And, if you get one in warranty, you may not be too bothered about having to get the gremlins fixed. You will if its a Ferrari though as anything that breaks tends to go into 4 or more figures.

[pdavison]

Thanks guys for all the advice/thoughts.

I am thinking that maybe waiting (if I can manage to) would be the best idea. It's the 355 that I have always lusted after and I don't want to get a shoddy example of any car, especially a Ferrari.

Unless someone wants to persuade me other wise !

>> Edited by pdavison on Thursday 21st November 10:13

[ninja_eli]

I have seen some 355's in Foskers and Joe Macari for around the 40K mark. I don't know about the condition of these cars, but I know the warranties are not really worth much. It might be worth checking out if you really have the itch. It all depends on how bad you want it. But be aware that the prices can be expensive if something goes wrong. People like Verdi will look after it for you for little money, and they really know their stuff, but they are still at the mercy of parts prices too. And these parts are bloody expensive. And I mean it. Wing mirror for 355 £609 plus VAT. Bypass valve (shitty little valve!) £606 plus VAT. If you can stomach these costs, then consider it further. BUT, remember that a 355 at £40K is going to be at least 7-8 years old now, and that is some age for any car, let alone a Ferrari. It's likely that certain things may go wrong, which will be expensive. I prefer a decent warranty myself with cars like this.

I personally agree with the others, wait until you really aren't stretching yourself.

[manu]

Ninja - I gotta talk to you - will be calling you later - apologies for yesterday.